Shum Financial Group Inc. Invests $1.48 Million in Visa Inc. $V

Shum Financial Group Inc. acquired a new stake in shares of Visa Inc. (NYSE:V) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,325 shares of the credit-card processor’s stock, valued at approximately $1,477,000. Visa accounts for approximately 1.1% of Shum Financial Group Inc.’s holdings, making the stock its 27th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Visa by 0.9% during the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC raised its stake in Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Norges Bank bought a new stake in Visa during the second quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. grew its stake in Visa by 14.6% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after buying an additional 2,429,996 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 0.7%

Shares of NYSE:V opened at $350.99 on Friday. The stock has a market capitalization of $639.41 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The stock’s 50-day moving average price is $339.16 and its 200-day moving average price is $343.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the company posted $2.71 EPS. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. Visa’s payout ratio is currently 26.25%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Robert W. Baird set a $425.00 price objective on shares of Visa in a research report on Wednesday, October 29th. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Buy” and a consensus price target of $402.52.

Insider Activity

In related news, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 13,557 shares of company stock valued at $4,586,137. 0.12% of the stock is currently owned by company insiders.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.